The US dollar (USD) remains highly sensitive to the data, while the news about tariffs continue to have only a limited effect. During the night, the US president, Donald Trump, has threatened a 35% tariff on certain Canadian products from August 1 and has raised the idea of 15-20% general tariffs on most US business partners, compared to the current 10% reference. In a letter to the Canadian Prime Minister, Mark Carney, Trump cited ‘unsustainable commercial deficits’ driven by the tariff and non -tariff barriers of Canada, says the FX analyst of ING, Francesco Pesole.
The DXY could be kept close to level 97.50
“The fifth consecutive drop in yesterday’s initial unemployment requests has reinforced the narrative that an acute deterioration in the labor market is unlike The interannual rate slightly up, from 2.8% to 2.9%.
“Today, the federal budget balance is expected to be -30 million dollars. While an important deviation could have an impact on the FX, the history of the budget seems to have been put in the background by the markets for the moment. The tariff Tariffs, the USD is likely to ignore this protectionism round, with the repercussions on the FX limited to local impacts, such as the BRL, as discussed below.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
